International Assets Investment Management LLC Has $15.91 Million Position in Tesla, Inc. (NASDAQ:TSLA)

International Assets Investment Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 99.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,957 shares of the electric vehicle producer’s stock after selling 11,012,434 shares during the quarter. Tesla comprises 0.7% of International Assets Investment Management LLC’s holdings, making the stock its 14th largest holding. International Assets Investment Management LLC’s holdings in Tesla were worth $15,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Park National Corp OH boosted its position in shares of Tesla by 31.1% during the 4th quarter. Park National Corp OH now owns 1,973 shares of the electric vehicle producer’s stock valued at $797,000 after purchasing an additional 468 shares in the last quarter. Innova Wealth Partners bought a new position in shares of Tesla during the 4th quarter worth approximately $415,000. McAlister Sweet & Associates Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $283,000. One Wealth Capital Management LLC acquired a new position in shares of Tesla during the 4th quarter valued at $1,093,000. Finally, Spartan Planning & Wealth Management acquired a new stake in Tesla in the fourth quarter worth $1,718,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock valued at $169,393,831 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.6 %

Shares of Tesla stock traded down $2.22 during midday trading on Wednesday, reaching $392.14. 21,415,767 shares of the company’s stock traded hands, compared to its average volume of 75,611,320. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $1.26 trillion, a PE ratio of 107.44, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock has a 50 day moving average of $368.03 and a 200-day moving average of $277.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Truist Financial restated a “hold” rating and set a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Cantor Fitzgerald raised their price target on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler raised their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.